FCC prepares debt for Scottish waste project

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
FCC prepares debt for Scottish waste project

Spanish developer FCC is lining-up banks to finance a residual waste public private partnership (PPP) project in Scotland.

According to sources, a group of banks is preparing a £120 million (US$176.8 million) debt package for the project. The group of banks is made up:

Edinburgh and Midlothian councils awarded the project to FCC in late 2014. The firm will handle up to 135,000 tonnes of waste per annum, as part of a 25-year contract. The deal also includes the construction, financing and operation of an energy from waste facility- with feedstock to be sourced from both Edinburgh and Midlothian councils.

The new energy-from-waste (EfW) plant will be located at a disused rail Marshalling Yards near Millerhill in Midlothian. The plant will be operated by Alauna Renewable Energy, a joint venture between Kelda Water Services and Scottish Water.

The total project investment is estimated at about US$204 million.

The new facilities will help both authorities reach Scotland's recycling target of 70% by 2025 and the country's landfill diversion target of 95% by 2025.

FCC along with Macquarie Capital Group Ltd. (Equity Provider), John Sisk & Son Ltd., has been named preferred bidder in the tender process for the Grangegorman Public Private Partnership (PPP) project in Ireland. The project consists of two new technologically-advanced education buildings - the Central and East quads - at DIT's new education campus at Grangegorman. This project is valued at some €180 million (US$188.8 million).

Share this news